Sonnet BioTherapeutics Inc (SONN)

[starkd748]

This thing collapsed under the head n shoulders pattern....See if 30s hold

[kindo]

I think we are due for some news!

[antman]

Well we are rising again today so maybe it was getting the offering done that kicked things down somewhat

[limer814]

That was the closing of the offering. See OTC markets if you want to read it

[crazy horse 0]

No idea

Why is this dropping again?

[govprs]

Anyone know what this is?

Form D - Notice of Exempt Offering of Securities

[crazy horse 0]

Agree with you

Well we don't really know what's going on behind the scenes and whatever it is i'm sure it takes a little time for the different phases of testing.
The main reason i'm here is the fact that insiders are buying so they see something positive.
Maybe the 800,000 shares was someone who figures we are in a downtrend at the moment and they will buy back if it hits .20's again?

[kindo]

Well we don't really know what's going on behind the scenes and whatever it is i'm sure it takes a little time for the different phases of testing.
The main reason i'm here is the fact that insiders are buying so they see something positive.
Maybe the 800,000 shares was someone who figures we are in a downtrend at the moment and they will buy back if it hits .20's again?

[antman]

800k shares were sold in a half hour period today which knocked it down

[kindo]

No news and probably impatient traders.

[antman]

Why is this dropping again?

[crazy horse 0]

No Idea

You think they will keep doing offerings every time markey gets above 10 percent?

[Rstrummin]

You think they will keep doing offerings every time markey gets above 10 percent?

[crazy horse 0]

You know a Buyout could be forced here with the Markey 11 percent shares owned

[kindo]

I agree!
I’ve been adding more shares each week!

[Golden Cross]

heck yeah

[limer814]

I would say. Anyone putting $1.5m in a ticker is a bullish sign to me

[Golden Cross]

Great sign

[limer814]

Another 13G filed. 400k more shares purchased..$SONN

[starkd748]

Yup I didn't read any filings and 44s are here

[Golden Cross]

Looks to have bottomed here

[crazy horse 0]

What ever it is he knows he bought more shares so I am expecting good things are coming SONN

For sure what does he know :)

[Rstrummin]

For sure what does he know :)

[crazy horse 0]

A person in the know on what is going on with SONN

Who is this guy markey? Buying up a lot!

[Rstrummin]

Who is this guy markey? Buying up a lot!

[crazy horse 0]

John Markey just provided an update on share ownership of Sonnet BioTherapeutics Holdings Inc.

https://www.conferencecalltranscripts.org/summary/?id=12344488


SONN Filing

OWNERSHIP
(a) Amount beneficially owned:
3,305,000
(b) Percent of class:
9.9%
(c) Number of shares as to which the person has:
(i) sole power to vote or to direct the vote:
John Markey : 3,305,000
(ii) shared power to vote or to direct the vote:
John Markey : 0
(iii) sole power to dispose or direct the disposition of:
John Markey : 3,305,000
(iv) shared power to dispose or to direct the disposition of:

https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317609684&type=HTML&symbol=SONN&cdn=a2cd61e200af55e56213b203a5ce46a9&companyName=Sonnet+BioTherapeutics+Holdings+Inc.&formType=SC+13G%2FA&formDescription=%5BAmend%5D+Statement+of+acquisition+of+beneficial+ownership+by+individuals&dateFiled=2023-07-07

[crazy horse 0]

Seems it to me anyway it is a BUY right now

Is this the bottom?

[antman]

Is this the bottom?

[crazy horse 0]

Green is good we bottomed

Happy 4th, everybody. I'm on vacation, but it's always nice to see a nice Green Day.

$SONN

[Carjockey2]

Happy 4th, everybody. I'm on vacation, but it's always nice to see a nice Green Day.

$SONN

[crazy horse 0]

Yep wish I could have

glad to know I was buying more last week along w SONN insiders.

[limer814]

Same here.. !!! Added more today as well. I think we here the offering is over soon, followed by an update imo

[Earlofsandwich]

glad to know I was buying more last week along w SONN insiders.

[crazy horse 0]

Lets start off right

Early morning $SONN .53!+

[limer814]

Early morning $SONN .53!+

[crazy horse 0]

AGREEEEEEEEEEEEEEEEEEEE

In my opinion if insiders keep buying there has to be something very positive that they see.
This will pop big, might take a few months but it will!

[crazy horse 0]

Come back IMO we will be fine

Had I saw the news before I jumped, I would have held for now. Oh well. Best of luck to you, I hope it works out.

[SecondLife]

Had I saw the news before I jumped, I would have held for now. Oh well. Best of luck to you, I hope it works out.

[kindo]

In my opinion if insiders keep buying there has to be something very positive that they see.
This will pop big, might take a few months but it will!

[crazy horse 0]

You as well I am staying

I bailed early yesterday to take a small loss. I wasn’t feeling it. Thanks for the post though. Have a good one! Happy 4th!

[limer814]

*.478s

[limer814]

I added .487s. We will see

[SecondLife]

I bailed early yesterday to take a small loss. I wasn’t feeling it. Thanks for the post though. Have a good one! Happy 4th!

[starkd748]

I go by the chart...bearish divergence

[crazy horse 0]

SONN 13 Filing ITEM 4. OWNERSHIP (a) Amount beneficially owned: 2,830,000
(b) Percent of class: 8.5%
(c) Number of shares as to which the person has:
(i) sole power to vote or to direct the vote:
John Markey : 2,830,000
(ii) shared power to vote or to direct the vote:
John Markey : 0
(iii) sole power to dispose or direct the disposition of:
John Markey : 2,830,000
(iv) shared power to dispose or to direct the disposition of:

https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317596397&type=PDF&symbol=SONN&cdn=01ee63e2927754725d944506e7cf0911&companyName=Sonnet+BioTherapeutics+Holdings+Inc.&formType=SC+13G&formDescription=Statement+of+acquisition+of+beneficial+ownership+by+individuals&dateFiled=2023-06-30

[limer814]

Another 13G filed this am .. increasing his ownership and adding more shares

[starkd748]

Here comes .44s on the chart

[Joe99999]

Remember insider loaded at .70 last month or so.

[Joe99999]

Once offering and warrant close, this will fly again. Hang in there everyone!!

[crazy horse 0]

SONN Filing 3,660,000 Shares of Common Stock

Pre-Funded Warrants to Purchase up to 1,340,000 Shares of Common Stock

1,340,000 Shares of Common Stock Underlying the Pre-Funded Warrants

https://www.stockilluminati.com/sonn/display.php?url=https%3a%2f%2fwww.stockilluminati.com%2fsonn%2fsec%2f0001493152-23-022970%2f424B5.html

Comment

So now we get a filing that answers our questions....turns out that indeed the warrants were mostly converted by June 15 the day prior to the big drop.

So the big drop on June 16 from 120 to 52 cents in less than a few hours was not due to warrant conversion.

They also used up their allotment of private placements for the year and can't do another one till next year unless the price increases dramatically. (they can do other offerings but will have to file first I believe)

So this is all good news. Here is the updated share count (prior to the most recent 5M share placement):

"As of the date of this prospectus supplement, the aggregate market value of our outstanding shares of Common Stock held by non-affiliates was $30,438,197 based on 33,389,648 shares of Common Stock outstanding, of which 32,729,244 shares were held by non-affiliates, based on a price of $0.93 per share, which was the last reported sale price of our Common Stock on Nasdaq on June 15, 2023. "